Ford says it will lose $3 billion this year making electric cars [CBS News]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: CBS News
The figures were released Thursday as Ford rolled out a new way of reporting financial results. The new business structure separates electric vehicles, the profitable internal combustion and commercial vehicle operations into three operating units. Company officials said the electric vehicle unit, called "Ford Model e," will be profitable before taxes by late 2026 with an 8% pretax profit margin. Chief Financial Officer John Lawler said Model e should be viewed as a startup company within Ford. "As everyone knows, EV startups lose money while they invest in capability, develop knowledge, build (sales) volume and gain (market) share," he said. Model e, he said, is working on second- and even third-generation electric vehicles. It currently offers three EVs for sale in the U.S.: the Mustang Mach E SUV, the F-150 Lightning pickup and an electric Transit commercial van. Transparency The new corporate reporting system, Lawler said, is designed to give investors more transparen
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News
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- Ford Pro Rolls on Commercial Side, While Model e Losses Mount [Yahoo! Finance]Yahoo! Finance
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- Critical EV battery investment helps secure Canada's auto future [Yahoo! Finance]Yahoo! Finance
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